LONDON, November 15, 2017 /PRNewswire/ --
Further to the announcement on 24th
October, 2017, regarding the receipt of conditional approval
from the Listing Committee of the Toronto Stock Exchange ('TSX'),
Condor Gold ('Condor', 'Condor Gold' or 'the Company') (AIM: CNR;
OTCQX: CNFGF) is pleased to announce that it has filed a
preliminary non-offering prospectus ('preliminary prospectus') with
the Ontario Securities Commission.
Mark Child, Chairman and CEO
comments:
"The TSX listing will further build the profile of the Company
and understanding of its potential among North American investors.
Condor's Central American focus and the robust attributes of its
flagship La India Project make a compelling case for listing the
Company on the TSX, the number one public market globally for
mining companies.
"La India Project contains a mineral resource in the Indicated
category of 9.6 million tonnes ('Mt') at 3.5 grams per tonne
('g/t') for 1.08 million oz gold and a total mineral resource in
the Inferred category of 8.5 Mt at 4.5 g/t for 1.23 million oz
gold, together with mineral reserve in the Probable category of 6.9
Mt at 3.0 g/t for 675,000 million oz gold. The Indicated mineral
resource is inclusive of the mineral reserve. The La India Project
is permitting a 2,800 tonnes per day processing plant with a
capacity to produce 100,000 oz gold per annum from a single open
pit. Condor continues with its strategy of proving a major Gold
District."
The preliminary prospectus is a non-offering prospectus, which
contains important information relating to the Company's business
and operations and ordinary shares, and is still subject to
completion or amendment and final receipt and acceptance by the
Ontario Securities Commission. Copies of the preliminary prospectus
are available under the Company's profile on SEDAR at
http://www.sedar.com. The Company will update investors once this
has been accepted in final form by the Ontario Securities
Commission and the other conditions to listing on the TSX have been
satisfied.
The Company will remain listed on the AIM market of the London
Stock Exchange and its shares trade on the OTCQX.
About Condor Gold plc:
Condor Gold plc was admitted to AIM on 31st May,
2006. The Company is a gold exploration and development company
with a focus on Central
America.
Condor published a Pre-Feasibility Study ('PFS') on its wholly
owned La India Project in Nicaragua in December, 2014, as summarized in
the Technical Report (as defined below). The PFS details an open
pit gold mineral reserve in the Probable category of 6.9 Mt at 3.0
g/t gold for 675,000 oz gold, producing 80,000 oz gold per annum
for seven years. La India Project contains a mineral resource in
the Indicated category of 9.6 Mt at 3.5 g/t for 1.08 million oz
gold and a total mineral resource in the Inferred category of 8.5
Mt at 4.5 g/t for 1.23 million oz gold. The Indicated mineral
resource is inclusive of the mineral reserve.
Disclaimer
Neither the contents of the Company's website nor the contents
of any website accessible from hyperlinks on the Company's website
(or any other website) is incorporated into, or forms part of, this
announcement.
Technical Information
The disclosure contained in this news release of a scientific or
technical nature has been summarized or extracted from the
technical report titled "Technical Report on the La India Gold
Project, Nicaragua, December 2014", dated November 13, 2017 with an effective date of
December 21, 2014 (the "Technical
Report"), prepared in accordance with National Instrument 43-101 -
Standards of Disclosure for Mineral Projects ("NI 43-101").
The Technical Report was prepared by or under the supervision of
Tim Lucks, Principal Consultant
(Geology & Project Management), Gabor Bacsfalusi, Principal
Consultant (Mining), Benjamin
Parsons, Principal Consultant (Resource Geology), each of by
SRK Consulting (UK) Limited, and Neil
Lincoln of Lycopodium Minerals Canada Ltd., each of whom is
an independent Qualified Person as such term is defined in NI
43-101.
David Crawford, Chief Technical
Officer of the Company and a Qualified Person as defined by NI
43-101, has approved the written disclosure in this press
release.
Forward Looking Statements
Certain statements in this news release constitute
forward-looking information under applicable Canadian securities
laws. These statements relate to future events or future
performance and include, but are not limited to, estimates of
mineral resources and mineral reserves, the listing of ordinary
shares on the TSX and benefits thereof, future gold production at
the La India Project and the continued listing of the Company on
AIM. All statements other than statements of historical fact may be
forward-looking statements. Forward-looking statements are often,
but not always, identified by the use of words such as
"seek",
"anticipate",
"plan",
"continue",
"objectives",
"strategies",
"estimate",
"expect",
"may",
"will",
"project",
"predict",
"potential",
"targeting",
"intend",
"could",
"might",
"should",
"believe" and similar expressions. These
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results or events to differ
materially from those anticipated in such forward-looking
statements. The Company believes the expectations reflected in
those forward-looking statements are reasonable but no assurance
can be given that these expectations will prove to be correct and
such forward-looking statements included in this news release
should not be unduly relied upon. The Company does not undertake
any obligation to update forward-looking statements except as
required by applicable securities laws.
For further information please visit
http://www.condorgold.com or contact:
Condor Gold plc
Mark Child
Executive Chairman and CEO
+44(0)20-7493-2784
Beaumont Cornish Limited
Roland Cornish and James Biddle
+44(0)20-7628-3396
Numis Securities Limited
John Prior and James Black
+44(0)20-7260-1000
Blytheweigh
Tim Blythe, Camilla Horsfall and Megan Ray
+44(0)20-7138-320